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Y2.01

BUSINESS CONCEPT :: Product Portfolio :: Product Definition

WORKSHEET BUSINESS CONCEPT

CHECKLIST FOR PRODUCT AND SERVICE VARIATIONS Variation options for services

Variation options for products

- Duration (short, medium, long) - Level (low, medium, high) - Quality (low/good/high) - Staffing - Scope

- Color (red/green/blue, etc.) - Size (S/M/L) - Materials (wood/plastic/metal) - Quality (low/good/high) - ...

Variation options for products and services

- Price (low/medium/high) - Technology (low-tech/high-tech) - ...

www.startupcompany.dk

w e i v e r p Expansion of the product portfolio

By expanding our product portfolio we can attract more customers and increase the revenue on existing customers.

Process

INTRODUCTORY PRODUCTS /SERVICES

CORE PRODUCTS /SERVICES

ADD-ON PRODUCTS/ SERVICES

Variations:

FLAGSHIP PRODUCTS/ SERVICES

Start by listing all of your company’s core products and services.

Note in which (new) ways the product or the service can be offered in different variations. Also consider whether you are able to offer a service to a physical product, or a physical product to a service.

Continue by listing all current and maybe even new introductory products and services. These might be the first purchases of new customers. Evaluate your options for defining add-on products and services that can change or improve the core products. Finally define the most extended or luxurious flagship product that your company is able to offer customers.

Next Step

Produce an action plan to develop new products and services that will expand your company’s product portfolio.

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Intention


Product Portfolio